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FLY FANInnovate e-commerce through the social web,[object Object],Ji-Woong ‘Paul’ Chung,[object Object],CEO of Fly Fan ,[object Object]
Welcome to one of the Largeste-commerce markets,[object Object],6th largest ecommerce market ,[object Object],17B$ Volume,[object Object],double-digit annual growth ,[object Object],   (22~27% before the financial crisis),[object Object],eBay’s outpost for Asian market expansion,[object Object],acquired at,[object Object],382M$ (2001),[object Object],Total M/S ,[object Object],87% ,[object Object],acquired at 1.2B$ (2007),[object Object]
The Most Dynamic & Innovative E-commerce Market,[object Object],Korea tops in broadband penetration 95% of homes,[object Object],mobile shopping ,[object Object],Rich shopping experience,[object Object],Korean customer set the very high standards for customer service ,[object Object],24-hour retail,[object Object],One-day shipping,[object Object]
WHO IS FLY FAN?,[object Object],TEAM ,[object Object],Founded by former members of Top three Korean Internet companies (NHN , NCSoft , Daum) ,[object Object],six members total (two for executives , one designer , three engineers),[object Object],Vision,[object Object],Innovate e-commerce through the social web,[object Object],What have we done?,[object Object],1forME.net ( Asia’s Etsy ),[object Object],Dealing a year’s worth of commerce 2.0 developement,[object Object],Today, we’ll present our second product ,[object Object],for the first time at GOAP Seoul!,[object Object]
BetterUs : eBay for Group Buying ,[object Object],“Matching group of retailers,[object Object],   with  groups of customers,[object Object],      through a moderator”,[object Object],  No More groupon clone.,[object Object],  Not a  coupon Business,[object Object],transaction for physical goods,[object Object],   Buying is like a Blind Date,[object Object]
Problems,[object Object],Buyers,[object Object],Group buying is good. But, can I trust these products? I need trustworthy recommendation.,[object Object],TRUST,[object Object],This is  weakness of Groupon too!,[object Object],   Retailers ,[object Object],   Marketing is a issue Companies often need help creating viral marketing,[object Object],           MARKETING ,[object Object],   Flexible selling make it difficult to lower distribution costs.,[object Object],FIXED AMOUNT SELLING,[object Object],WILL ANYONE TAKE CARE OF THESE PROBLEMS FOR ME?,[object Object]
The solution We’ve Found Learned,[object Object],One buyer (called the Moderator) takes a charge of each part of the group buying process.  After buying, buyers rate the moderator.         ,[object Object],Helps buyers to choose the right product via recommendations.,[object Object],Helps retailers to find groups of customers quickly.,[object Object],Helps retailers with marketing using based on reputation.,[object Object],The Moderator’s Role,[object Object],Select from retailer’s offers (acts as a merchandiser),[object Object],Facilitates exposure through their social media presence. (acts as a marketer) ,[object Object],Recruits a group of customers (acts as a salesman) ,[object Object],          Learned from Korean Moms’,[object Object],          group buying patterns, a.k.a,[object Object],		“ Group Buying Moderating by ,[object Object],		the Power Mom Blogger“,[object Object]
1. Transaction List ,[object Object],list of Deals Recommended by Moderator ,[object Object],the Moderator’s Reputation ,[object Object],limited time (flash sales),[object Object],limited sales (fixed amount sales),[object Object],the transaction is activated only if sales meet certain numbers,[object Object]
2. Moderator chooses the Deal,[object Object],Moderator’s Blog ,[object Object],Twitter & Facebook,[object Object],Recruit Early-Bird Group,[object Object]
3. User rate the Moderator,[object Object],4. Group Dynamics ,[object Object],Rewards vary according to buyer’s participation level,[object Object],[object Object]
Early Bird group
Late Comer grouplike a pyramid.,[object Object],1) Moderator ,[object Object],Free Product +Revenue Sharing ,[object Object],2)  Early Bird Group,[object Object],Heavy Discount  (e.g 30%) ,[object Object],3) Late Comer Group,[object Object],Basic Discount  (e.g 20%) ,[object Object],Additional Discount /w Referral Invitation,[object Object]
Market Size,[object Object],Household/living products for moms/parents,[object Object],(25 to 45 age range),[object Object],total addressable market opportunity  is,[object Object],  2B$ in Korea , 18B$ in U.S,[object Object],with20% annual growth rate ,[object Object],emerging & untapped Markets,[object Object],low e-commerce penetration percentages so far (1~4%),[object Object],market where “trusted group buying” works well.,[object Object]
Business Model,[object Object],transaction fee from retailers ,[object Object],future potential #1  : advertising,[object Object],target ads about retailer’s other goods,[object Object],future potential #2 : subscriptions ,[object Object],more discounts for a private group of paid members,[object Object],Adjustment,[object Object],Checkout,[object Object],retailer ,[object Object],group of buyers,[object Object],BetterUs,[object Object],Shipping,[object Object]
Technology / Advantage,[object Object],Core technology ,[object Object],rating the Moderator according to feedback  from retailers & buyers ,[object Object],rewarding buyers according to participation level ,[object Object],We Developed a rating/rewarding algorithm based on,[object Object],various Korean online games & multi-level marketing campaigns.,[object Object],TEAM ,[object Object],The team members have extensive backgrounds in blogosphere commerce,[object Object],We have strong connection with “Power Mom Bloggers”,[object Object],The Team knows what makes “Trusted Group Buying” tick…,[object Object]
Value to the Customer,[object Object]
Value to Retailers,[object Object],small ,[object Object],retailer,[object Object],guaranteed ,[object Object],fixed amount of sales ,[object Object],mid to large ,[object Object],retailer ,[object Object],viral marketing channel,[object Object],feedback from early adopter Group,[object Object],company in ,[object Object],product development,[object Object]
Road Map ,[object Object],    end of July             2010 4Q                     2011,[object Object],    launch                    launch                     expand ,[object Object],    in Korea               one of US city             to global,[object Object],( e.gL.A),[object Object],                                     ( Asian retailers            ( global retailers,[object Object],                                       and U.S Moderators)     and Moderators ),[object Object]

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